Central Florida:
Central Florida DAP trucks were reported at a flat $550/st FOB, narrowing from $530-$550/st FOB in the previous week. Truck-loaded MAP was called $650/st FOB, up from last week’s $630-$650/st FOB range. North Florida MAP postings were unchanged at $625/st FOB.
US Gulf:
Players reported an unusually slow NOLA barge market, due in part to the upcoming holiday week. DAP levels firmed to $535-$540/st FOB from last week’s $525-$540/st FOB, while pricing for warehouse tons continued at a $550/st FOB NOLA-equivalent. Upriver barges traded at $544-$549/st FOB, sources said.
Players reported minimal MAP barge activity, and a lack of confirmed business left prices unchanged from the week-ago $600-$630/st FOB. Some sources expect pricing to land toward the bottom of the range in the next round of business. Upriver barges and warehouse tons were priced equivalent to $650/st FOB NOLA.
US Imports:
DAP imports rose 156.8% in July-September, to 484,583 st from the prior year’s 188,717 st. Imports were up 169.5% in September, to 264,834 st from the year-ago 98,270 st. July-September imports from Saudi Arabia stood at 265,105 st, while tons shipping from Jordan totaled 119,543 st. Australia added 52,814 st, ahead of 44,092 from Egypt.
July-September MAP/Other imports firmed 77.8% year-over-year, to 287,400 st from 161,649 st. September imports were up 3.7%, to 125,772 st from 121,341 st. Tunisia sent 86,363 st for the fertilizer year-to-date, ahead of 66,689 st from Saudi Arabia and 59,945 st from Australia, while Mexico shipped 51,112 st.
US Exports:
With nothing new reported in the DAP and MAP export markets, pricing remained at $570/mt FOB for the latest business.
September DAP exports were 70,490 st, a 26.0% decrease from the year-ago 95,250 st. Exports softened to 123,863 st in July-September, off 53.1% from 264,371 st in the same period last year. US sellers sent 51,291 st of DAP to Peru in July-September, ahead of 20,941 st to Uruguay and 15,101 st to Mexico.
MAP/Other exports for September stood at 187,885 st, down 12.6% from the year-ago 215,072 st. July-September exports totaled 401,386 st, falling 14.4% from 469,053 st posted one year earlier. Canada took 301,580 st for July-September, topping 38,272 st to Australia and 31,146 st to Mexico.
Eastern Cornbelt:
DAP was steady at $590-$605/st FOB in the Eastern Cornbelt, with Cincinnati pricing quoted at the $600-$605/st FOB level. November-December pricing at Ottawa and LaSalle was pegged at $600/st FOB as well.
MAP pricing slipped to $690-$710/st FOB in the Eastern Cornbelt, down $5/st from last report, with the low confirmed at Ottawa. The Cincinnati MAP market remained at the $700/st FOB level.
In the Great Lakes region, delivered DAP in Michigan was quoted at the $645/st level for November-December, while MAP in Michigan was reported at $735/st FOB or DEL for November-December tons.
DAP remained at $590-$610/st FOB in the Western Cornbelt, with the St. Louis market steady in the $590-$600/st FOB range. MAP was quoted at $685-$720/st FOB in the region, with the low at St. Louis and the high confirmed in Iowa.
Northern Plains:
DAP pricing at St. Paul was quoted at $590-$610/st FOB, with MAP reported at the $680/st FOB level at that location.
Northeast:
DAP remained at $615/st FOB East Liverpool, unchanged from last report. MAP was lower in the Northeast, however, falling to $685-$705/st FOB for the latest offers in the region, down from a high of $725/st FOB at last report. Sources quoted the East Liverpool MAP market at the $705/st FOB level, while no MAP is reportedly available at Fairless Hills until February.
Eastern Canada:
MAP pricing continued to be reported in a broad range at C$905-$985/mt FOB in Eastern Canada, with DAP steady at C$910/mt FOB Montreal.
China:
China is reportedly allowing some small 6,000-10,000 mt DAP cargoes to be exported to regional buyers. Larger quantities, however, seem to be on hold following last week’s decision to limit exports.
India:
Phosphate subsidy cuts have forced buyers to bid at much lower levels than the current market will accept. Earlier reports that $575/mt CFR might have been workable are now out the window, and buyers now need to look at bidding closer to $535/mt CFR, sources said. No supplier has responded to this new price level.
Even if they were permitted to export DAP, Chinese producers would not be willing to accept the bids from Indian buyers, knowing that other buyers remain willing to pay higher rates. Some Arab producers and their Russian counterparts are reportedly willing to discuss possible deals with the Indian buyers, but so far no business has been done.
Brazil:
Imported MAP prices increased slightly, to $560-$570/mt CFR from the week-ago $560-$565/mt CFR. While reports of low prompt supply continue, demand remains limited and concentrated primarily in the inland markets.
Rondonópolis prices were stable at $690-$710/mt FOB ex-warehouse on low activity during the holiday week. Despite the lack of liquidity, a feeling of strength remains, with references coming $5-$10/mt above last week’s offers.